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Identification

Country

Bulgaria

Title

Financial Crisis Survey 2010

Subtitle

Second Round

Study Type

Enterprise Survey

Series Information

The Financial Crisis Survey (FCS), an initiative of the Private Sector Development Vice-Presidency of the World Bank Group, provides a quick, short, and cost-efficient evaluation of the impact of the 2008 global financial crisis on private companies in European and Central Asian countries.

For this study, researchers contacted the same companies interviewed in 2008-2009 Business Environment and Enterprise Performance Surveys (BEEPS), also referred to as 2008-2009 Enterprise Surveys (ES). Manufacturing and services private sector establishments were surveyed for 2008-2009 BEEPS. The original data also served as a baseline for comparisons because it referred mostly to fiscal year 2007, thus measuring the pre-crisis scenario.

The Financial Crisis Survey was designed to follow up the same firms every six months during the financial crisis. The first round of FCS took place in June-July 2009, the second wave - in February-March 2010, and the third round was implemented in June-July 2010. Six countries - Bulgaria, Hungary, Latvia, Lithuania, Romania, and Turkey - participated in all three waves. Companies from Kazakhstan were surveyed only in the second round.

ID Number

BGR_2010_FCSr2_v01_M_WB

Overview

Abstract

This research was conducted in Bulgaria in February-March 2010 as part of the second round of The Financial Crisis Survey. Data from 152 establishments from private nonagricultural formal sector was analyzed to quantify the effect of the 2008 global financial crisis on companies in Bulgaria.

Researchers revisited establishments interviewed in Bulgaria Enterprise Survey 2009. Efforts were made to contact all respondents of the baseline survey to determine which of the companies were still operating and which were not. From the information collected during telephone interviews, indicators were computed to measure the effects of the financial crisis on key elements of the private economy: sales, employment, finances, and expectations of the future.

Kind of Data

Sample survey data [ssd]

Units of Analysis

The primary sampling unit of the study was the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Coverage

Geographic Coverage

National

Geographic Unit

Regions covered were selected based on the number of establishments, contribution to employment, and value added. In most cases these regions were metropolitan areas and reflected the largest centers of economic activity in a country.

Universe

The manufacturing and services sectors were the primary business sectors of interest. This corresponded to firms classified with International Standard Industrial Classification of All Economic Activities (ISIC) codes 15-37, 45, 50-52, 55, 60-64, and 72 (ISIC Rev.3.1). Formal (registered) companies were targeted for interviews. Services firms included construction, retail, wholesale, hotels, restaurants, transport, storage, communications, and IT. Firms with 100% government ownership were excluded.